Nursing Care Facilities Market: ZIP 47406
Opportunity Score
88
/ 100
Excellent
Based on walkability, population density, income levels, and local business competition.
Market Summary
ZIP 47406 is an urban area with moderate foot traffic.
Area Profile
8,356
Population
Urban
Area Type
15.0/20
Foot Traffic
Very Car-Dependent
Median Age: 19.2 —
young market, strong street food demand.
College-Educated: 1.0% —
value-focused market, keep prices competitive.
Operating Costs
Local cost levels affect space, labor, and operating expenses.
$1,200
2BR Fair Market Rent
$1,188
Median Gross Rent
Tips for Starting a Elder Care Business in Indiana
- State licensing for assisted living takes 6-12 months and involves facility inspections, staffing plans, and background checks. Start early.
- Staffing is your #1 cost and #1 challenge. CNA turnover runs 50-75% annually in most markets. Budget for constant recruiting.
- Medicare and Medicaid reimbursement rates vary by state. Some states pay well. Others don't cover costs. Know your state's rates before committing.
- Start small. A residential care home (6-8 beds) requires far less capital than a 50-bed facility and lets you prove your model.
Quick Facts
- Area Type
- Urban
- Foot Traffic
- Very Car-Dependent
vs. National Average
Walkability
+4.5 pts vs. national avg
Nearby Markets
47405
0.7 mi
Pop: 1,249
47408
5.0 mi
Pop: 21,660
$45,584
Walk: 13.1
47404
6.1 mi
Pop: 23,614
$54,674
Walk: 12.1
47401
7.1 mi
Pop: 40,084
$65,643
Walk: 12.8
47458
7.3 mi
Pop: 19
Walk: 5.3
47403
9.1 mi
Pop: 34,410
$68,703
Walk: 10.8
47429
9.8 mi
Pop: 7,402
$88,625
Walk: 6.2
47468
11.4 mi
Pop: 1,195
$81,979
Walk: 3.7
Check Another Market
Or estimate costs with the ElderCareCost calculator.
About This Data
Data sources
U.S. Census Bureau (ACS, ZBP) · HUD Fair Market Rents · EPA Walkability Index · USDA RUCA · IRS SOI · FDIC Summary of Deposits